Austrian VC Elevator Ventures launches new €70M VC fund to foster fintech and banking innovation
Summary
“The partnership with Elevator Ventures and the investment in EV II demonstrate our commitment to promoting entrepreneurship and positive change in our region,” says Martin Schaller, CEO of Raiffeisen-Landesbank Steiermark. The VC will continue to support startups in Fintech & Beyond Banking with a €70M fund participation by RBI, Raiffeisen-Holding Niederösterreich-Wien, and Raiffeisen-Landesbank Steiermark. Elevator Ventures aims to generate financial returns for its investors, while also supporting the strategy of its Limited Partners (LP) by connecting them with high-growth companies whose business models may change the industry dynamics in the mid- to long-term. To achieve this, Elevator Ventures builds a network of thought leaders in the industry and collaborates with startup teams working on technologies and business models that may be relevant for banks in three to five years. The team has a wide sourcing and business development network in DACH and CEE and uses the deep expertise and intel of its investors as an advantage.